Past year: ▲ 35%(6.17 – 8.62 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
8 May 2006drilling progress report● Neutral
Third-party filing by Sunshine Gas: Coxon Creek 4 (Santos 85% operator) has been cased and completed and now awaits production testing. The rig moves to Coxon Creek 5, the last well of the current pilot program. Follows the earlier 1.074 MMcfd open hole flow.
2 May 2006drilling progress report▲ Good
Third-party weekly update by Drillsearch: Mulberry 11 (Santos 89% operator) met several hydrocarbon zones in the middle Birkhead and was cased as a future oil producer. The rig moves to Mulberry 16, while a second rig prepares to spud Endeavour 5.
27 Apr 2006drilling result● Neutral
Third-party filing by Drillsearch: Mulberry 13 (Santos 89% operator) was cased as a potential water injection well, not an oil producer. Mulberry 11 spudded 24 April. Seven of 51 planned wells are done; a second rig is due in May and reporting moves to weekly.
26 Apr 2006farm in farm out agreement▲ GoodMajor
Santos entered Vietnam for the first time, farming into Premier Oil-operated Blocks 12E and 12W in the Nam Con Son Basin for a 37.5% interest, up from nil. It funds part of a two-well program; Dua-4X is to start drilling in early May 2006, followed by the Blackbird well.
21 Apr 2006drilling result▼ Bad
Third-party filing by Drillsearch: Mulberry 13 (Santos 89% operator), spudded 16 April, reached TD of 1,349 m with only poor to fair oil shows over 15 m in the Birkhead. Logging follows; this is weaker than the earlier Mulberry wells.
18 Apr 2006drilling result▲ Good
Third-party filing by Drillsearch: Mulberry 10A (Santos 89% operator) reached 1,349 m and logs showed 4 m of net oil pay in the Birkhead. It was cased as a future producer, extending the reservoir south of Mulberry 9 and 14. The rig moves to Mulberry 13.
13 Apr 2006drilling progress report● Neutral
Third-party report by Drillsearch: Mulberry 10 was abandoned at 218 m after its surface casing failed a pressure test. The rig moved 5 m to Mulberry 10A, which spudded 10 April and was at 1,183 m with good oil shows in the Westbourne Formation.
11 Apr 2006drilling result▲ Good
Third-party filing by Drillsearch: Mulberry 14 (Santos 89% operator) was cased and suspended as a future oil producer, with about 10 m of net oil pay in the mid Birkhead. The rig moves to Mulberry 10.
6 Apr 2006drilling spud● Neutral
Third-party filing by Cue: Dukuh-1 exploration well began 5 April in the Sampang PSC offshore East Java, about 10 km south of the Jeruk discovery. It tests a four-way dip closure to 3,200 m in about 44 days. Santos operates with 40.5%.
6 Apr 2006drilling result▲ Good
Third-party filing by Drillsearch: Mulberry 14 (Santos 89% operator) reached 1,360 m with strong oil shows over 16 m (1,241-1,257 m) in the Birkhead Formation. Drillsearch calls it a significant extension of the Mulberry oil pool. Wireline logging is next.
5 Apr 2006drilling progress report● Neutral
Third-party report by Drillsearch: Mulberry 14 (Santos 89% operator) was drilling ahead at 905 m on 4 April, having drilled 687 m in 24 hours. No result yet.
4 Apr 2006drilling spud● Neutral
Third-party filing by Drillsearch: Mulberry 14 delineation well (Santos 89% operator) spudded 1 April, reaching 218 m with surface casing set. It targets the Birkhead Formation at about 1,250 m, planned TD 1,340 m. It follows Mulberry 9 in the sequence.
4 Apr 2006drilling spud● Neutral
Third-party filing by Antares: Santos USA-operated KMF 228-1 well in Kenedy County, Texas spudded 3 April, targeting a deep Frio prospect to 18,200 feet in about 80 days. Antares holds 5%; its un-risked estimate is 225 Bcf. Santos's own interest is not stated.
4 Apr 2006drilling spud● Neutral
Third-party filing by Cue: SE Gobe-13 began drilling 30 March in Papua New Guinea, following the SEG-11 and SEG-12 successes. It is planned to reach 2,200 m measured depth in about 35 days. Santos's subsidiary Barracuda holds 9.39% of the unit.
31 Mar 2006drilling result▲ Good
Third-party filing by Drillsearch: Mulberry 9 (Santos 89% operator) reached 1,337 m, found fair to good oil shows at 1,245-1,251 m in the Birkhead Formation and was cased. It is the fourth successive well to extend the Mulberry field. The rig moves to Mulberry 14.
31 Mar 2006drilling progress report● Neutral
Third-party weekly report by Origin: Newstead 11 gas injector (Santos QNT 12.5%) was drilled to 1,508 m and cased, with a gas show noted in the Moolayember Formation for later evaluation. The rig moves to Ogilvie Creek 1.
29 Mar 2006drilling progress report● Neutral
Third-party report by Drillsearch: Mulberry 9 (Santos 89% operator) was at 1,025 m on 29 March and drilling ahead. Birkhead target is about 1,250 m. No result yet.
27 Mar 2006drilling result▲ Good
Third-party filing by Drillsearch: Mulberry 8 (Santos 89% operator) found 12 m of good reservoir in the mid Birkhead oil interval. It extends the Mulberry pool 850 m south-west of Mulberry 5 and was cased. The rig moves to Mulberry 9.
27 Mar 2006drilling spud● Neutral
Third-party filing by Drillsearch: Mulberry 9 (Santos 89% operator) spudded 26 March and reached 218 m. It targets the Birkhead Formation at about 1,250 m, to a planned 1,345 m. It is the fourth well of the Tintaburra program.
23 Mar 2006drilling result▲ Good
Third-party filing by Drillsearch: Mulberry 8 (Santos 89% operator) reached 1,344 m with fair to good oil shows at 1,248-1,260 m in the Birkhead Formation. Drillsearch calls it a pleasing extension of the Mulberry pool. Logging is next.
23 Mar 2006drilling progress report● Neutral
Third-party weekly report by Origin: Santos QNT (12.5%) is a partner in the Newstead 10 and 11 gas injection wells in the Surat Basin. Newstead 10 was cased as a future injector, and Newstead 11 was drilling. Nothing material for Santos.
23 Mar 2006drilling result▲ Good
Third-party filing by Sunshine Gas: Coxon Creek 2 (Santos 85% operator) has been cased and completed over the coal seams. It will be pumped for an extended production test, and the rig moves to the second of up to four pilot wells.
22 Mar 2006drilling result▲ Good
Third-party filing by Cue: the SE Gobe-12 development well in Papua New Guinea found a 25.8 m net oil column and a 25.4 m net gas column. Oil production is expected from mid-April at 1,500-2,000 barrels a day. Santos's subsidiary holds 9.39%.
22 Mar 2006farm in farm out agreement▲ GoodMajor
Third-party filing by Icon Energy: Santos will earn 50% of Surat Basin permit ATP 626P by drilling Stitch No.1 and operating. It will also subscribe for 10 million Icon shares at 6.76c ($676,000). Santos gets a heads of agreement to operate two Cooper-Eromanga permits at 63%.
20 Mar 2006drilling spud● Neutral
Third-party filing by Drillsearch: Mulberry 8 (Santos 89% operator) spudded 19 March and reached 225 m. It targets the Birkhead Formation at about 1,240 m, to a planned 1,432 m. It follows Mulberry 7 in the program.
17 Mar 2006drilling progress report▲ Good
Third-party filing by Cue: Jeruk-3 (Santos operator, 40.5%) reached 4,960 m measured depth on 16 March, where it believes it hit the top of the Kujung objective. Logging, casing and evaluation follow, toward a planned 5,512 m. The result is still pending.
17 Mar 2006drilling result▲ Good
Third-party filing by Drillsearch: Mulberry 7 (Santos 89% operator) found 14 m of good reservoir in the Birkhead oil interval. It extends the Mulberry pool 425 m south-west of Mulberry 5 and was cased. This is the second extension in the 51-well program.
16 Mar 2006drilling progress report▲ Good
Third-party report by Drillsearch: Mulberry 7 reached its 1,440 m total depth with fair to good oil shows at 1,242-1,260 m in the Birkhead Formation. Logs await analysis and production casing is to be run.
15 Mar 2006drilling spud● Neutral
Third-party filing by Sunshine Gas: Coxon Creek 2, the first of up to four coal seam gas pilot wells in ATP 336 (Santos 85% operator, Sunshine 15%), spudded 11 March. Planned depth 410 m, about 11 days to complete. No result yet.
13 Mar 2006drilling progress report● Neutral
Third-party report by Drillsearch: Mulberry 7 (Santos 89% operator) was at 757 m on 13 March, drilling ahead after setting surface casing at 215 m. Target Birkhead Formation at about 1,240 m. No result yet.
